Weekly Wrapup: Flurry of Positive Medical Cannabis News Offsets Colo. Contraction, Idaho MMJ Setback
Last week started off on a disappointing note for the medical cannabis industry.
First came news that several MMJ dispensaries in Colorado have closed – or are about to call it quits – after receiving warning letters from the federal government. Then we saw the effort to legalize medical marijuana in Idaho sputter out, with organizers failing to gather enough signatures to advance the initiative.
But the news then took a decidedly positive turn:
#1. A lawmaker in Michigan introduced a bill that would allow medical marijuana dispensaries to operate in the state. While some observers are doubtful the measure will pass, at least the option is on the table.
#2. Nancy Pelosi came out swinging this week for the MMJ industry, questioning the Obama administration’s crackdown on dispensaries and offering up her support for medical cannabis. Love her or hate her, Pelosi is now a key ally to the medical marijuana movement. The fact that a key Obama ally spoke publicly against the president’s policies on medical cannabis – in an election year, no less – bodes well for the MMJ industry.
#3. Talk about saving the best for last: Late in the week, the Connecticut Senate signed off on a bill to legalize medical marijuana. Connecticut is now poised to become the 17th state in the nation to approve the possession and use of medical marijuana by qualified patients. This further ratchets up the pressure on the Obama administration to end its crackdown on MMJ.
Dispensaries and retail cannabis stores in Colorado sold nearly 150,000 pounds of marijuana flower last [click to continue...]
Recreational marijuana has dominated headlines out of Washington DC this week, as the use, possession [click to continue...]
A company that got turned down for one of the Illinois’ 21 medical marijuana cultivation [click to continue...]
A financial services firm that plans to serve the cannabis industry has secured $2 million [click to continue...]
Alaska marijuana entrepreneurs who want to specialize in infused products or extracts will have to [click to continue...]
With private marijuana use on track to become legal in Washington DC on Thursday barring [click to continue...]
Oregon is facing an interesting question tied to its medical marijuana law: Should evicted cannabis [click to continue...]
Institutional investors will put money into cannabis stocks this year, though many publicly traded MJ [click to continue...]
Alaska Gov. Bill Walker has sent a bill to state lawmakers calling for the establishment [click to continue...]
Canadian stock regulators have a word of warning for those investing in MMJ companies north [click to continue...]
At least half of Minnesota’s medical marijuana dispensaries will be unionized. The United Food and [click to continue...]
Dispensary owners in New York may have a niche customer base to tap when they [click to continue...]
A U.S. investment fund has cemented its second deal with a Canadian cannabis grower this [click to continue...]
Dispensary owners in San Jose, California, are in a dispute with the city over unpaid [click to continue...]